When flatsharing is the only option

By David Brandt and Ivana Kottasova, CNN

updated 7:07 AM EDT, Thu April 17, 2014

Monte Carlo, Monaco, is the most expensive city in the world to rent an apartment, according to Global Property Guide. The average rent there, in U.S. dollars, is $10,099 a month for an apartment that is 120 square meters (about 1,292 square feet). Click through the gallery to see other expensive locations on the list.

London: $6,856

New York City: $6,553

Tokyo: $6,341

Moscow: $6,277

Hong Kong: $6,198

Bermuda: $5,597

Paris: $5,501

Geneva, Switzerland: $4,737

Singapore: $4,276

Sydney: $3,472

Kiev, Ukraine: $3,443

Helsinki, Finland: $3,320

Tel Aviv, Israel: $3,280

Amsterdam, Netherlands: $3,246

Rome: $3,208

Tortola, British Virgin Islands: $3,071

Auckland, New Zealand: $3,052

Toronto: $3,047

Grand Cayman: $3,018

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World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

World's most expensive places to rent

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STORY HIGHLIGHTS

15% of people living in London share their homes with people they are not related to

With higher rents in many cities, people who are 40 and more are forced to share

(CNN) -- Paul Bailey shares his London home with two strangers, Alejandro and Fernando.

More than a million people in the British capital now live in flatshares. And while this kind of living arrangement used to be associated with students and youthful television sitcoms, more and more mature people find themselves living with strangers.

Like Bailey, who is 43.

"What we are seeing now more than ever is an increase in the amount of people over 40 looking for flatshares," Matt Hutchkinson from flatmate-finding service Spareroom said.

Rising rents prompts roommate search

"At the moment, one in eight people in flatshares is over 40 and that's a real shift from three to

four years ago," he says.

Bailey was forced to find flatmates after separating from his partner of 15 years.

"It was a fleeting thought that 'oh my god' I'm going to have to do it again. I'm 43 years old," he said. "The last time I lived with someone was in my 20s -- how is this going to work?"

With rents in London reaching the double of the national average, sharing is often the only option.

Websites helping people find their ideal flatmates, such as Spareroom, Flatshare and Roombuddies are booming. Spareroom says it saw a 20% increase in the number of people looking for roommates in January compared to last year.

In New York City, 2,500 room offers in shared properties were posted on advertising site Craigslist in the first four days of April.

As for Paul Bailey, he seems to be happy with his new living arrangements.

"It's been three, four months and it's been brilliant. I come home and see the little light on and go 'yay', I've got someone at home, I have someone to talk to," he said.